Shoot the Moon, Come to Earth

Thursday, August 21st, 2014

Call it 6 months ago.

Someone holding a newer ocean-view townhome in MB thought something like this: "Market's hot. Wonder how much I could get for this house?"

And so, the 2009-built El Porto townhome at 312 44th (4br/3ba, 2675 sq. ft.) was listed, as a FSBO, at $2.700M.

That would have been an absolutely extraordinary price, if they could even come close.

We noted in "Double Your Money?" that the same TH had sold new for $1.269M in Jan. 2011. (That post includes more of a deep dive into the original, ambitious, late-bubble project in which this TH was built.)

In February this year, they were looking to more than double their purchase price in 3 years.

Alas, they did not.

The FSBO string played out. Various agents made their pitches to the…

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Based on information from California Regional Multiple Listing Service, Inc. as of August 23rd, 2014 at 10:17am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.